Total index $\times$ brent&      18.496***&      18.496***&      18.496***&       8.710***&       8.710***&       8.710***&       5.068***&       5.068***&       5.068***\\
                    &     (1.406)   &     (1.409)   &     (1.438)   &     (0.392)   &     (0.393)   &     (0.403)   &     (1.157)   &     (1.157)   &     (1.196)   \\
LGC FE              &               &           X   &           X   &               &           X   &           X   &               &           X   &           X   \\
Time FE             &               &               &           X   &               &               &           X   &               &               &           X   \\
R2                  &        .693   &        .713   &        .972   &        .828   &        .833   &        .987   &        .203   &        .204   &        .967   \\
Observations        &      140868   &      140868   &      140868   &      140868   &      140868   &      140868   &      140868   &      140868   &      140868   \\
Number of LGCs      &         774   &         774   &         774   &         774   &         774   &         774   &         774   &         774   &         774   \\
Mean of DV          &        .305   &        .305   &        .305   &        .206   &        .206   &        .206   &       .0564   &       .0564   &       .0564   \\
